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Welcome aboard yourself, a ... http://www.ShareScene.com/html/emoticons/smile.gif


..... expanding your horizons, ... ??? lol


Enjoy your stay and we look forward to

seeing some of your own posts and charts.


have a nice day





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thought i would post two charts of the spi, one is my range chart which is interesting to see how the ranges repeat themselves, and the other is todays chart of the spi, i dont think i can post them both together but will give it a go..if not i will post seperately


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Debt Futures Review: Short Covering Lifts Long End Of Curve

By Allen Sykora

BEND, Ore. (Dow Jones)--Interest-rate futures in Chicago finished higher Monday largely on short covering and profit taking in the aftermath of Friday's rally, traders said.

The short end was under slight pressure, however, ahead of a two-year note auction on Tuesday. Contacts also cited the ongoing curve flattening that has put more pressure on the front end as traders anticipate more Federal Reserve rate hikes going forward.

December 10-year notes settled up 4 ticks at 112-13.5 and December Treasury bonds gained 19 ticks to 113-10.

"We got a slow rebound from Friday's hammering," said Craig Ross,

president of ApexFutures.com in Chicago. "It's been a nice, slow chug to the upside.

"It's been on low volume, though. So it's hard to say how long it might

last and when it will meet some heavy resistance. Right now, we're calling it

a correction more than anything else."

He pointed out the bonds and 10-years did post an inside session on the

charts, with the ranges for the day being within Friday's ranges.

"It seems to be short covering and profit taking from Friday's move,"

Ross said of the gains. "It seems like most of the people who made money

Friday were short-term traders. So they're looking to take their short-term


The shorter end of the curve did not fare as well, however. December two-

year notes dipped a half tick to 105-07, while June Eurodollars fell 1.5

basis points to 96.855.

Some of the weakness in the short end is due to anticipation of a $24

billion two-year note auction on Tuesday, said Roseanne Briggen, senior

market analyst in New York with Informa Global Markets. The bidding deadline

is noon CT (1800 GMT), with results expected shortly afterward.

Also, said Briggen, the curve-flattening trend is being aided by

currency-related factors.

Said Ross: "People in the short end of the curve still fear more Fed

rate increases. So that is putting a lid on any kind of comeback in the

Eurodollars market."

December bonds traded as high as 113-11 during the open-outcry session.

Ross put resistance at 113-14 and 113-22.

"We wouldn't get too excited until the 114 number is taken out," he

added. "That is something that would put the bull market back intact."

He put support at Friday's 112-16 low, then the open-outcry low of 112-01

from Wednesday.

December 10-year notes got as high as 112-14 in pit trading. The key

nearby resistance will be around 112-18.5 to 112-19.5, said Ross. Support

comes in at Friday's 112-02.5 low.

Meanwhile, June Eurodollars traded down as far as 96.845. The key nearby

support is Friday's 96.80 low, said Ross.

"It will be hard for the 10s and 30s (notes and bonds) to stage much of

a comeback if we take out that 96.80 number," said Ross. He put resistance at

96.955 to 96.97.

No major U.S. economic indicators were on the calendar Monday. The

market is to get existing-home sales Tuesday at 0900 CT (1500 GMT).

Economists are looking for an annualized rate of 6.70 million sales, which

would be down slightly from 6.75 million in September.

Another report is also on the calendar for Tuesday at 0900 CT - the

Chicago Fed's National Activity Index.


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DJ NY Precious Metals Midday: Gold Steady Below Recent Highs


NEW YORK (Dow Jones)--Comex December gold futures treaded water just below

recent highs Monday in a $446.10-$448.20 per ounce range amid thin conditions

as the U.S. dollar remained under pressure and oil prices stretched to several

day highs.


Dealers said activity levels were light as the fund community proved

reluctant to chase prices higher while the U.S. dollar remained above recent

lows against the euro and bullion banks sold only into strength.


However, the mood of the market remains bullish and many sources expect an

assault to be staged on the psychologically significant $450 an ounce target

level at some point over the near term.


"We're so close to $450 now that a test of it has got to be inevitable.

Obviously we expect good selling at that level to make it tough to get beyond

$450, but at least one test of it is likely before we break for Thanksgiving,"

argued a commodities analyst with a large futures commission house.


The shortened trading week due to the Thanksgiving holiday Thursday and

closure of the Comex markets Friday is expected to make for choppy trading as

Thursday approaches, dealers said.


As a result, while a push toward $450 may well be seen over the near term, a

swift pullback towards potential support around $445, $444 and $442 could also



At 11:20 a.m. EST December gold was quoted around $447.80-448.00 in light



December silver also went over recently well trodden ground to hold a

$7.565-7.640 path through the morning. Upside goals include $7.70 and $7.72,

while support is expected around $7.65, $7.54 and $7.50.


Nymex January platinum and December palladium also marched sideways Monday in

low-key conditions and neglected to appear outside $851-$856 and $216-$220

ranges respectively by late morning. Both metals are seen remaining on sideways

headings over the rest of the day.


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